Matterport Launches Program for Partners to Build and Commercialize Apps and Integrations on its Spatial Data Platform
Matterport, a leader in spatial data technology, launched its Platform Partner Program on June 9, 2021, enabling businesses to create and monetize apps using its platform. Over 50 partners have already joined, enriching Matterport's ecosystem with various tools for industries using digital twins. The company is in a business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU), which will list as MTTR post-completion. The program promises significant benefits, including access to developer tools and support for partners to unlock new insights and capabilities.
- Launch of the Platform Partner Program enabling over 50 partnerships.
- Access for partners to Matterport's extensive spatial data library, enhancing app development.
- Significant sales increase reported by partners, such as PHORIA's 350% rise in 2020.
- Potential delay in completing the business combination with Gores Holdings VI.
- Risks related to the market environment that could affect stock performance post-completion.
SUNNYVALE, Calif., June 9, 2021 /PRNewswire/ -- Matterport, Inc., the leading spatial data company driving the digital transformation of the built world, today publicly launched its Platform Partner Program for businesses looking to create and monetize apps and integrations with its market-leading platform. In the last six months, more than 50 partners have signed up to access Matterport's developer tools, and the platform's expanding ecosystem of developer partners has created a rich library of apps, add-ons, customizations, and management tools, which multiple industries can leverage to enrich and customize any Matterport digital twin based on their unique needs and use cases.
In February 2021, Matterport announced that it has entered into a definitive agreement to enter into a business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU, and GHVIW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, that will result in Matterport becoming a publicly listed company. Upon closing of the proposed business combination, the combined company will be named "Matterport, Inc." and intends to remain listed on NASDAQ under the ticker symbol "MTTR."
Hundreds of thousands of customers use the Matterport platform to turn their physical spaces into accurate and immersive digital twins to more effectively access, manage and utilize them. Matterport's expanding ecosystem offers developer partners programmatic access to its powerful digital twins to customize and extend the immersive 3D experience, add new functionality, and tap directly into the rich spatial data behind every space to analyze and generate new property insights for a single space or a large portfolio of buildings. The data library includes spatial, dimensional, structural, and rich contextual property information, as well as 3D mesh data, 2D HDR imagery, point clouds, and panoramic photospheres.
Platform Partners can leverage Matterport's APIs and SDKs to either integrate digital twins or spatial data into their solutions or create application layers and add-ons on top of digital twins to customize or extend their capabilities. They also gain access to a range of commercial benefits, such as Matterport's distribution network and enhanced support as well as co-marketing and co-selling programs to help them successfully monetize their applications.
Trent Clews-de Castella, Co-founder and CEO of PHORIA, an early participant in the Platform Partner Program, saw sales of CAPTUR3D increase 350 percent in 2020. "We have built a sustainable business upon Matterport's rich, diverse spatial data library and are able to serve new clients all over the world," says Clews-de Castella.
By joining the program, developers of all kinds can benefit from Matterport's global reach. Many have already built successful businesses by creating new apps and integrations that meet specific vertical use cases for Matterport customers. With access to Matterport's rich spatial data library, partners are developing the data science tools and analytics to unlock unprecedented insights about buildings, spaces and contents within them.
Early Platform Partners have built innovative solutions for an array of industries, some of which include:
- PHORIA, in Australia, developed CAPTUR3D, a Matterport-based content management system utilized today by real estate companies, educational institutions and organizations behind heritage landmarks. This system allows customers to elevate their Matterport content with virtual tour add-ons which include: virtual staging, an augmented reality app, custom Mattertags, and virtual tour overlays.
- VRPM, in the UK, helps real estate companies think beyond sterile, empty spaces by using Matterport to create visually engaging and immersive virtual environments that help entice commercial clients to lease or buy properties.
- ViewAR, in Austria, has created augmented reality experiences for both customers and employees -- from providing navigational support for museums and shopping malls to generating step-by-step instructions on the factory floor.
- Boost3D, in the UK, is changing the way its clients are interacting with digital twins across the real estate, hospitality, education and facilities management sectors through its embedded video conferencing solution, OpenHouse Live. Boost3D has built video conferencing and live streaming into Matterport virtual experiences so that up to 50 people can instantly gather and explore spaces.
"We are constantly collaborating with clients on virtual designs and staging, and sometimes changes are significant - even structural. The flexibility of the Matterport platform is essential to helping us respond quickly and effectively," said Mike Merron, Founding Director of VRPM.
Oliver Jay, Director for Compton, a London-based office and investment real estate firm, worked with VRPM to design and virtually stage an entire floor in the World Trade Center in New York. "The CGI staging that VRPM does within Matterport 3D digital twins is highly detailed and gives potential tenants an authentic sense of what it would be like to inhabit the space. It's been an invaluable asset to market our listings and occupy them faster."
"Matterport is focused on building best-in-class solutions that meet our customers' needs, and that vision is being made possible by partnering with best-in-class technology providers building solutions," said Conway Chen, Vice President of Strategic Alliances. "Our diverse and growing partner ecosystem has enabled Matterport to offer customized, end to end solutions that meet customer needs across a spectrum of industries, countries, and use cases."
The Matterport SDKs are open, flexible, and powerful tools that let developers easily build apps that are compatible with Matterport's platform and data. To accelerate app building, developers have the flexibility to innovate using languages they already know, such as TypeScript or JavaScript, while taking full advantage of the Three.js open source ecosystems.
To learn more about the Matterport Platform Partner Program and apply to join, visit https://matterport.com/platform-partner-program.
About Matterport
Matterport is leading the digital transformation of the built world. Our groundbreaking spatial computing platform turns buildings into data making every space more valuable and accessible. Millions of buildings in more than 150+ countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
In February 2021, Matterport announced that it has entered into a definitive agreement to enter into a business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU, and GHVIW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, that will result in Matterport becoming a publicly listed company. Upon closing of the proposed business combination, the combined company will be named "Matterport, Inc." and intends to remain listed on NASDAQ under the ticker symbol "MTTR."
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Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed business combination between Gores Holdings VI, Inc. ("Gores") and Matterport, Inc. ("Matterport"), including statements regarding the benefits of the proposed business combination, the anticipated timing of the proposed business combination, the services offered by Matterport and the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Gores' or Matterport's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "forecast," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions (including the negative versions of such words or expressions).
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the proposed business combination may not be completed in a timely manner or at all, which may adversely affect the price of Gores' securities; (ii) the risk that the proposed business combination may not be completed by Gores' business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Gores; (iii) the failure to satisfy the conditions to the consummation of the proposed business combination, including the approval of the proposed business combination by Gores' stockholders, the satisfaction of the minimum trust account amount following redemptions by Gores' public stockholders and the receipt of certain governmental and regulatory approvals; (iv) the effect of the announcement or pendency of the proposed business combination on Matterport's business relationships, performance, and business generally; (v) risks that the proposed business combination disrupts current plans of Matterport and potential difficulties in Matterport employee retention as a result of the proposed business combination; (vi) the outcome of any legal proceedings that may be instituted against Gores or Matterport related to the agreement and plan of merger or the proposed business combination; (vii) the ability to maintain the listing of Gores' securities on the NASDAQ; (viii) the price of Gores' securities, including volatility resulting from changes in the competitive and highly regulated industries in which Matterport plans to operate, variations in performance across competitors, changes in laws and regulations affecting Matterport's business and changes in the combined capital structure; and (ix) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in Gores final proxy statement/information statement/prospectus contained in the registration statement on Form S-4, including those under "Risk Factors" therein, and other documents filed by Gores from time to time with the U.S. Securities and Exchange Commission (the "SEC"). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Gores and Matterport assume no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Gores nor Matterport gives any assurance that either Gores or Matterport will achieve its expectations.
Additional Information and Where to Find It
In connection with the proposed business combination, Gores has filed a registration statement on Form S-4 that includes a proxy statement of Gores, an information statement of Matterport and a prospectus of Gores. The proxy statement/information statement/prospectus is not yet effective. The definitive proxy statement/information statement/prospectus, when it is declared effective by the SEC, will be sent to all Gores and Matterport stockholders as of a record date to be established for voting on the proposed business combination and the other matters to be voted upon at a meeting of Gores' stockholders to be held to approve the proposed business combination and other matters (the "Special Meeting"). Gores may also file other documents regarding the proposed business combination with the SEC. The definitive proxy statement/information statement/prospectus will contain important information about the proposed business combination and the other matters to be voted upon at the Special Meeting and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. Before making any voting decision, investors and security holders of Gores and Matterport are urged to read the registration statement, the proxy statement/information statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed business combination as they become available because they will contain important information about the proposed business combination.
Investors and security holders will be able to obtain free copies of the proxy statement/information statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Gores through the website maintained by the SEC at www.sec.gov, or by directing a request to Gores Holdings VI, Inc., 6260 Lookout Road, Boulder, CO 80301, attention: Jennifer Kwon Chou or by contacting Morrow Sodali LLC, Gores' proxy solicitor, for help, toll-free at (800) 662-5200 (banks and brokers can call collect at (203) 658-9400).
Participants in Solicitation
Gores and Matterport and their respective directors and officers may be deemed to be participants in the solicitation of proxies from Gores' stockholders in connection with the proposed business combination. Information about Gores' directors and executive officers and their ownership of Gores' securities is set forth in Gores' filings with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed business combination may be obtained by reading the proxy statement/information statement/prospectus regarding the proposed business combination. You may obtain free copies of these documents as described in the preceding paragraph.
Disclaimer
This document relates to a proposed business combination between Gores and Matterport. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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SOURCE Matterport
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